Raymond James Trust N.A. lessened its position in shares of Public Service Enterprise Group Inc. (NYSE:PEG) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,804 shares of the utilities provider’s stock after selling 439 shares during the quarter. Raymond James Trust N.A.’s holdings in Public Service Enterprise Group were worth $4,063,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legacy Private Trust Co. raised its position in Public Service Enterprise Group by 0.8% in the fourth quarter. Legacy Private Trust Co. now owns 69,080 shares of the utilities provider’s stock valued at $4,079,000 after purchasing an additional 520 shares during the period. Corbenic Partners LLC acquired a new position in shares of Public Service Enterprise Group in the 4th quarter valued at about $63,000. 6 Meridian lifted its position in Public Service Enterprise Group by 3.8% in the 4th quarter. 6 Meridian now owns 9,788 shares of the utilities provider’s stock valued at $578,000 after purchasing an additional 358 shares during the last quarter. CHICAGO TRUST Co NA lifted its position in Public Service Enterprise Group by 2.3% in the 4th quarter. CHICAGO TRUST Co NA now owns 31,007 shares of the utilities provider’s stock valued at $1,831,000 after purchasing an additional 696 shares during the last quarter. Finally, DNB Asset Management AS lifted its position in Public Service Enterprise Group by 9.0% in the 4th quarter. DNB Asset Management AS now owns 80,652 shares of the utilities provider’s stock valued at $4,763,000 after purchasing an additional 6,634 shares during the last quarter. 69.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PEG stock traded up $0.13 during midday trading on Tuesday, reaching $58.38. 2,203,223 shares of the company were exchanged, compared to its average volume of 2,657,150. Public Service Enterprise Group Inc. has a 12 month low of $50.59 and a 12 month high of $63.88. The company has a market cap of $29.48 billion, a P/E ratio of 18.71, a PEG ratio of 4.68 and a beta of 0.24. The company’s 50 day moving average price is $58.69 and its two-hundred day moving average price is $60.00. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.52 and a current ratio of 0.75.

Public Service Enterprise Group (NYSE:PEG) last released its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.03. Public Service Enterprise Group had a net margin of 14.45% and a return on equity of 11.01%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $0.95 EPS. As a group, sell-side analysts predict that Public Service Enterprise Group Inc. will post 3.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 10th were issued a $0.47 dividend. The ex-dividend date was Monday, December 9th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.22%. Public Service Enterprise Group’s payout ratio is currently 60.26%.

In related news, COO Ralph A. Larossa sold 1,650 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $58.73, for a total value of $96,904.50. Following the sale, the chief operating officer now directly owns 74,419 shares in the company, valued at approximately $4,370,627.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 5,150 shares of company stock worth $309,675 over the last quarter. Insiders own 0.51% of the company’s stock.

Several analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Public Service Enterprise Group from $60.00 to $62.00 and gave the company a “sector perform” rating in a research report on Thursday, October 3rd. Wolfe Research downgraded shares of Public Service Enterprise Group from an “outperform” rating to a “peer perform” rating and set a $64.00 price objective on the stock. in a research report on Thursday, November 14th. Mizuho lifted their price objective on shares of Public Service Enterprise Group from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays downgraded shares of Public Service Enterprise Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Public Service Enterprise Group currently has a consensus rating of “Hold” and a consensus price target of $63.38.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.

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Institutional Ownership by Quarter for Public Service Enterprise Group (NYSE:PEG)

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